Are all real-time transactions created equal? GRAFT vs Electroneum
Electroneum recently announced real-time transactions available as beta on their network. We wanted to take some time to shed some light on the difference in approaches between solutions like Electroneum and GRAFT.
With their approach, Electroneum is effectively following the centralized model of Bitpay, Coinbase, Coingate, GoUrl.io, and many other centralized crypto payment processing gateways in that they issue an authorization immediately as the transaction enters the transaction pool, without waiting for confirmations on the network. There is little innovation in this approach which is well-known to the industry. With centralized entity in the middle, the buyer and the merchant must rely on trusted party just like with traditional plastic payment processing, which means no privacy, no security, and a single point of control.
Unlike Bitpay and other centralized payment gateways, Electroneum shifts the risk of transaction not getting confirmed onto the merchant rather than absorbing it themselves.
Continue reading here: https://www.graft.network/2018/09/20/real-time-transactions-graft-vs-electroneum/
Electroneum recently announced real-time transactions available as beta on their network. We wanted to take some time to shed some light on the difference in approaches between solutions like Electroneum and GRAFT.
With their approach, Electroneum is effectively following the centralized model of Bitpay, Coinbase, Coingate, GoUrl.io, and many other centralized crypto payment processing gateways in that they issue an authorization immediately as the transaction enters the transaction pool, without waiting for confirmations on the network. There is little innovation in this approach which is well-known to the industry. With centralized entity in the middle, the buyer and the merchant must rely on trusted party just like with traditional plastic payment processing, which means no privacy, no security, and a single point of control.
Unlike Bitpay and other centralized payment gateways, Electroneum shifts the risk of transaction not getting confirmed onto the merchant rather than absorbing it themselves.
Continue reading here: https://www.graft.network/2018/09/20/real-time-transactions-graft-vs-electroneum/